First Trust Exchange-Traded Fund Series of Exchange-Traded Funds Announces Distributions

First Trust Exchange-Traded Fund (“Trust”), a registered management
investment company currently consisting of 17 exchange-traded funds,
announced regular quarterly and semi-annual distributions today for 11
exchange-traded funds (“Funds”) in the Trust.

The following dates apply to today’s distribution declarations:

Expected Ex-Dividend Date

December 23, 2008

Record Date

December 26, 2008

Payable Date

December 31, 2008

Ordinary

Ticker

Exchange

Fund Name

Frequency

Income

FDM

NYSE Arca

First Trust Dow Jones Select MicroCap IndexSM Fund

Semi-Annually

$0.1150

FDL

NYSE Arca

First Trust Morningstar® Dividend Leaders IndexSM
Fund

Quarterly

$0.1800

FPX

NYSE Arca

First Trust IPOX-100 Index fund

Semi-Annually

$0.1245

FDN

NYSE Arca

First Trust Dow Jones Internet IndexSM Fund

Semi-Annually

$0.0125

FDV

NYSE Arca

First Trust DB Strategic Value Index Fund

Semi-Annually

$0.1520

FVI

NYSE Arca

First Trust Value Line® Equity Allocation Index Fund

Semi-Annually

$0.1415

FVD

NYSE Arca

First Trust Value Line® Dividend Index Fund

Quarterly

$0.1260

FRI

NYSE Arca

First Trust S&P REIT Index Fund

Semi-Annually

$0.1010

FIW

NYSE Arca

First Trust ISE Water Index Fund

Semi-Annually

$0.0875

FCG

NYSE Arca

First Trust ISE-Revere Natural Gas Index Fund

Semi-Annually

$0.1065

FNI

NYSE Arca

First Trust ISE Chindia Index Fund

Semi-Annually

$0.0715

The majority, and possibly all, of this distribution will be paid out of
net investment income earned by the Fund. A portion of this distribution
may come from net short-term realized capital gains or return of
capital. The final determination of the source and tax status of 2008
distributions will be made after the end of 2008.

First Trust Advisors L.P., the Funds’ investment advisor, along with its
affiliate First Trust Portfolios L.P., are privately-held companies
which provide a variety of investment services, including asset
management, financial advisory services, and municipal and corporate
investment banking, with collective assets under management or
supervision of over $17 billion as of November 30, 2008 through
closed-end funds, unit investment trusts, mutual funds, separate managed
accounts and exchange-traded funds.

You should consider the investment objectives, risks, charges and
expenses of a Fund before investing. Prospectuses for the Funds contain
this and other important information and are available free of charge by
calling toll-free at 1-800-621-1675 or visiting www.ftportfolios.com.A prospectus should be read carefully before investing.

Principal Risk Factors: A Fund’s shares will change in value, and you
could lose money by investing in a Fund. An investment in a Fund
involves risk similar to those of investing in any fund of equity
securities traded on exchanges. A Fund seeks investments results that
correspond generally to the price and yield of an index. You should
anticipate that the value of a Fund’s shares will decline, more or less,
in correlation with any decline in the value of the index. A Fund’s
return may not match the return of the index. A Fund may invest in small
capitalization and mid capitalization companies. Such companies may
experience greater price volatility than larger, more established
companies.

Investors buying or selling Fund shares on the secondary market may
incur brokerage commissions. Investors who sell Fund shares may receive
less than the share’s net asset value. Unlike shares of open-end mutual
funds, investors are generally not able to purchase Fund shares directly
from the Fund and individual shares are not redeemable. However,
specified large blocks of shares called “creation units” can be
purchased from, or redeemed to, the Fund.